Respondents from lower socio-economic backgrounds were considerably more likely than their peers to lack confidence in finding a local job.

Maryanne Matthews, chief executive of the EY Foundation said: “What young people are saying loud and clear in this report is that there is a disconnect between having an experience of work and the confidence to get a job, especially if they come from a low-income household.”

Many young people’s ambitions are making them feel as if they have to look further afield to accept more challenging roles.

Two in five aspire to become the boss of a company, with 63% wanting to lead a team. 37% of young people would like to start their own business.

Ann Francke, chief executive of CMI commented: “Young people aspire to become leaders but it’s currently luck of the draw whether they get the necessary chances to learn how. We need employers and educators to help the next generations to develop practical skills and confidence from a younger age.”

The report is calling on employers and schools to back a school-to-work agenda as part of the curriculum. Schools are almost twice as likely to offer information on traditional degrees (86%) than apprenticeship routes (48%).